ALACHUA, Fla. (AP) — ALACHUA, Fla. (AP) — AxoGen Inc. (AXGN) on Tuesday reported fourth-quarter net income of $450,000, after reporting a loss in the same period a year earlier.
On a per-share basis, the Alachua, Florida-based company said it had net income of 1 cent. Earnings, adjusted for stock option expense, were 8 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The regenerative medicine company posted revenue of $49.4 million in the period.
For the year, the company reported that its loss narrowed to $10 million, or 23 cents per share. Revenue was reported as $187.3 million.
AxoGen shares have increased slightly more than 9% since the beginning of the year. The stock has increased 76% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXGN at https://www.zacks.com/ap/AXGN
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